CandleFocus CFTC Has No Authority to Reject Election Contracts, Judge Says
2024-09-12
Author: Content Editor
A federal judge has ruled that the US Commodity Futures Trading Commission (CFTC) did not have the authority to block Kalshiex, the political prediction market, from listing its products in the US. Judge Jia Cobb stated that the CFTC's order exceeded its statutory authority, as Kalshiex's contracts do not involve unlawful activity or gaming. This ruling comes as the CFTC is considering a proposal to ban all exchanges from listing political prediction markets. The judge's decision was based on law, not personal preferences, and she emphasized that Congress did not authorize the CFTC to conduct the public interest review that led to the block.
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